Proceedings of the 2025 4th International Conference on Public Service, Economic Management and Sustainable Development (PESD 2025)

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The Fiscal Logic of Special Bonds in Promoting New Infrastructure and Economic Development

Authors
Mengyu Wang1, *
1Harbin University of Commerce, Harbin, 150028, China
*Corresponding author. Email: 2449352129@qq.com
Corresponding Author
Mengyu Wang
Available Online 22 December 2025.
DOI
10.2991/978-94-6463-916-2_64How to use a DOI?
Keywords
Special-purpose bonds; New infrastructure; Economic development
Abstract

Local government special bonds serve as a direct means to alleviate fiscal pressures by ensuring sustained investment in new infrastructure. The intensity and pace of fiscal expansion are reflected in the scale and progress of special bond issuance. This paper examines the issuance status of special bonds, focusing on their fiscal logic of supporting new infrastructure projects to effectively stimulate investment and drive economic growth. It explores the actual effectiveness of special bonds in promoting new infrastructure development. Research findings indicate that in advancing new infrastructure development, special bonds face challenges such as inefficiency and redundant construction in related investment projects, as well as difficulties in achieving targeted returns. Based on this analysis, the study concludes that establishing a comprehensive performance evaluation system for special bonds and increasing their allocation proportion to the new infrastructure sector are essential to enhance their growth-boosting efficacy for economic development.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2025 4th International Conference on Public Service, Economic Management and Sustainable Development (PESD 2025)
Series
Advances in Economics, Business and Management Research
Publication Date
22 December 2025
ISBN
978-94-6463-916-2
ISSN
2352-5428
DOI
10.2991/978-94-6463-916-2_64How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Mengyu Wang
PY  - 2025
DA  - 2025/12/22
TI  - The Fiscal Logic of Special Bonds in Promoting New Infrastructure and Economic Development
BT  - Proceedings of the 2025 4th International Conference on Public Service, Economic Management and Sustainable Development (PESD 2025)
PB  - Atlantis Press
SP  - 594
EP  - 601
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-916-2_64
DO  - 10.2991/978-94-6463-916-2_64
ID  - Wang2025
ER  -